Endeavor CEO Ari Emanuel discusses the acquisition of WWE.
Per SEC filings, WWE reached an agreement with Endeavor, the parent company of UFC, on April 3. The deal will see WWE merge with UFC and form a new publicly traded company. Emanuel will serve as CEO of both, and Vince Mcmahon is expected to serve as the Executive Chair of TKO, the new company.
During an appearance on CNBC’s Squawk on the Street, Emanuel highlighted the value of Endeavor’s assets, especially after the acquisition of WWE. He referenced his history working with both Vince McMahon and UFC President Dana White and noted that he doesn’t expect there to be any problems.
“Actually, I’ve represented UFC before we bought it, for over 20 years,” Emanuel said. “The same thing’s true with Vince. We have a good relationship.”
Emanuel responded to a question as to whether he’ll let McMahon and White do what they want with WWE and UFC by emphasizing that Endeavor will focus on saving on some costs and generating revenue.
“Exactly,” Emanuel said. “We do what we do as it relates to saving some costs, driving some revenue with sponsorship, international sales. Like we did with UFC, we’re gonna 2.0 at WWE.”
The Endeavor CEO also commented on negotiations for media rights and stated that WWE and UFC are on different timelines.
“Right now, we’re focused on saving some costs, doing sponsorships which they didn’t have,” Emanuel said. “It’s the same formula we used at UFC, and international rights. Their rights are open now, we’re in a year and a half from now. I think they’re on separate time frames.” (Transcription credit of Fightful)
Emanuel also noted that the two sides are waiting on the Department of Justice so they can close the deal; it is expected to be completed in the second of half of 2023.
Mark Shapiro, the president of Endeavor, previously commented on the deal. More information is available here.
